Archive - Nov 2011 - Blog entry

BNP hasn't even BEGUN to solve it's problems. How many analysts where you keep your brokerage account warned you of BNP/other French banks' before they started going pop.

How many was that again???!!!

The global economy is showing signs of withstanding a European recession triggered by the debt debacle in Greece.

All you need to read.

FX traders are gearing up to test Jun Azumi’s resolve to keep intervening in currency markets to weaken the yen from its postwar high.

While Japan’s Finance Minister directed the central bank on Oct. 31 to sell what analysts estimate was about 8 trillion yen ($102 billion), sending it down as much as 4.7 percent against the dollar, the move failed to increase volatility. Traders avoid currencies with increasing price swings because they boost the odds of sudden losses.

If this looks scary...relax, it's not half as scary as the real thing.

We'll have to see what hits the fan this week.

Our worries came to fruition...

The great sage Albert Einstein suggested that repeating something and expecting a different outcome is “insanity.”  The NY Fed is repeating its reliance on primary dealers to be transparent and accurate and to do so voluntarily.

What’s at risk, of course, is the whole concept of post-World War II universal  European representative government after the fall of Communism.

Laissez-faire or 'leave it along' is what needs to happen for the greater good of the consumer economy vs. the Wall Street "trader economy".

Believe in free market capitalism? Then move your money ...

Europe is finished. The region’s entire banking system is insolvent (with few exceptions). European non-financial corporations are running massive debt to equity ratios. And even EU sovereign states require intervention from the ECB just to meet current debt issuance, to say nothing of the huge amount of sovereign debt roll over that is due over the next 14 months.

Yes, times are going to get harder and an economic collapse is coming.

We are at a critical point as the worlds' economies continue to decline. Continued high unemployment and a stagnant economy will put pressure on the Administration and the Fed to do something. The implications are not good.

I vote, No Confidence.